The importance of product information management
In an age of empowered buyers, having product information available online is expected. In fact, product descriptions typically rank first as a source of information when consumers are making purchase decisions. They want to analyze audial and visual content, as well as read product reviews, compare similar products’ pricing, and configure items together in an easy way.
Product Information Management (PIM) is a business application for marketers, product owners, and product managers, used for creating marketing and sales information for products that can help centralize all of this content and syndicate it to all digital channels.
With PIM, business users can manage all product-related content for all channels through a centralized and trusted source and collaboration point.
Benefits of PIM
- Faster time-to-market for products across channels
- Better control over product content, imagery, media, and digital assets, whether produced in-house or sources from suppliers
- A more efficient, streamlined, and collaborative process for creating, updating, and approving product information
- The ability to establish relationships between and among products to facilitate up-sell and cross-sell opportunities
- Increased sales with fewer product returns
- Reduced cost due to greater efficiency within product marketing and merchandizing
- More satisfied, well-informed, and loyal customers